Small Caps Perky Again As Indexes Extend Gains; 3 Dow Stocks On The Move | Stock News & Stock Market Analysis

The Nasdaq composite and S&P 500 held moderate gains in afternoon trading Thursday in a quiet day of news flow that saw better-than-expected earnings from Accenture (ACN) and a final reading on Q3 GDP growth of 3.2%

X Small caps led the way with the Russell 2000 up 0.6%. The Dow and S&P 500 added 0.4% each and the Nasdaq rose 0.3%. Volume on the NYSE and Nasdaq was tracking close to Wednesday’s levels in the stock market today.

Among the day’s movers, Dow component Nike (NKE) added nearly 2% ahead of its earnings report after the close. The stock is quite extended after rallying sharply from a 57.35 cup-with-handle buy point.

Also in the Dow, Chevron (CVX) jumped 3% to 124.98. It’s one of several Dow names that boasts a healthy chart. The integrated oil and gas name paused for several days after a breakout over a 120.99 buy point but reclaimed the entry with conviction Thursday. Fellow integrated name Exxon Mobil (XOM) gained 1.5% to 84.14. It’s on the verge of clearing a flat base with an 84.34 buy point.

Oil and gas exploration and production firm Concho Resources (CXO) cleared a 147.87 buy point, rising 2% to 147.87. Big buyers were in the stock Wednesday when shares jumped nearly 5% in heavy volume.

Other heavy-volume gainers included Voya Financial (VOYA). Shares surged 5% in heavy volume on new its selling parts of its annuities businesses to a group of investors led by Apollo Global Management. The issue with Voya is that it’s already well-extended in price after a breakout in early November over a 41.74 buy point.

Inside the IBD 50, solid gainers included Daqo New Energy (DQ), YY Inc. (YY), Winnebago Industries (WGO) and SVB Financial (SIVB).

IBD’S TAKE: You can trade the IBD 50 by using the Innovator IBD 50 ETF by Innovator Capital Management.

Also in the IBD 50, Align Technology (ALGN) flashed a sell signal with a dive below the 50-day moving average. Shares slumped 5.5% to 220.74. It’s the fist time Align has been below the 50-day moving average since it cleared a 102.10 buy point in February.


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Originally posted 2017-12-22 12:00:49.


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